Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 988,400 shares, a decrease of 5.9% from the March 15th total of 1,050,000 shares. Based on an average daily trading volume, of 203,800 shares, the short-interest ratio is currently 4.8 days. Approximately 4.7% of the shares of the company are sold short.

Insider Transactions at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $4.94, for a total transaction of $37,050.00. Following the completion of the transaction, the chief executive officer now directly owns 224,368 shares of the company’s stock, valued at approximately $1,108,377.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Akoya Biosciences

A number of institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its holdings in shares of Akoya Biosciences by 10.8% in the second quarter. American International Group Inc. now owns 7,381 shares of the company’s stock worth $95,000 after acquiring an additional 718 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Akoya Biosciences by 34.0% in the second quarter. JPMorgan Chase & Co. now owns 8,431 shares of the company’s stock valued at $108,000 after purchasing an additional 2,138 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Akoya Biosciences by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,216 shares of the company’s stock valued at $1,198,000 after purchasing an additional 2,350 shares during the period. UBS Group AG grew its position in shares of Akoya Biosciences by 154.9% in the first quarter. UBS Group AG now owns 4,158 shares of the company’s stock valued at $34,000 after purchasing an additional 2,527 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Akoya Biosciences by 34.3% in the first quarter. Deutsche Bank AG now owns 10,435 shares of the company’s stock valued at $85,000 after purchasing an additional 2,665 shares during the period. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Performance

NASDAQ AKYA opened at $3.91 on Thursday. Akoya Biosciences has a fifty-two week low of $3.04 and a fifty-two week high of $8.80. The stock has a market cap of $192.14 million, a price-to-earnings ratio of -2.64 and a beta of 1.48. The business has a fifty day moving average of $5.01 and a 200-day moving average of $4.64. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. The company had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same period in the previous year, the firm posted ($0.50) earnings per share. As a group, analysts predict that Akoya Biosciences will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Akoya Biosciences in a research note on Tuesday, March 5th. Finally, UBS Group raised their price objective on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.07.

Akoya Biosciences Company Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.